"However, now, Nan Fu no longer dare to national strength itself, we can not help but sigh:" What to save you, you can not help but want to save you, National brand? "

Nanfu battery development process

Nanping Nanfu battery development history, should be traced back to 1958, when only 7 individuals, jointly set up the Fuzhou battery factory. In 1965, due to combat readiness and moved to Nanping, set up a Nanping battery factory. In 1987, when the director of Chen Lai-mao study abroad found that alkaline high-energy zinc-manganese battery has a broad market prospects, but the introduction of the Japanese production line needs more than 5000 million, and then Nanping battery factory fixed assets, but 200 million. In order to solve the financial problems, in 1988, Nanping Battery Factory and Hong Kong China Resources Group 100 Fu Limited (hereinafter referred to as "100 Fu Company"), China's export base for the construction of Fujian branch (hereinafter referred to as "base Fujian company"), Industrial Bank marriage , The establishment of China's battery industry's first Sino-foreign joint ventures one by one Fujian Nanping Nanfu Battery Co., Ltd. At that time, 100 Fu company holds 25% stake in Nanfu, the base of Fujian company holding 20%, Nanping battery factory to 2.8 million yuan of fixed assets investment, holding 40%, Industrial Bank invested 900,000 yuan, holding 15% The

   July 1990, with the help of China's foreign trade leasing company leasing form and the Japanese side of the loan, Nan Fu with more than 6000 million introduction of the first Japanese Fuji LR6 alkaline zinc-manganese battery production line officially put into operation. In 1993, under the leadership of Chen Lai Mao, once again introduced the first domestic LR03 (7) alkaline high-energy zinc-manganese battery production line. Since then, Nan Fu into the high-speed development period. In 1998, Nanfu fixed assets of 400 million yuan. According to the company employees recalled, in 1997, 1998, Nanfu high-energy environmental protection battery is very popular, the local agents are often holding a lot of cash to live in Nanfu company and other goods.

   In July 1995, the Commercial Bank Law was promulgated and commercial banks were not allowed to invest in non-bank financial institutions and enterprises in China. In 1998, Industrial Bank to its holding 15% of the shares to 25 million yuan to a private enterprise - Dafeng Electric Co., Ltd.. Before its exit, Industrial Bank from South Fu dividends totaled 970,000, which means that Industrial Bank had 90 million investment, 10 years after the net profit of 25 million yuan. Took over the shares of Industrial Bank Dafeng electrical appliances, in fact, all funded by Nanfu workers set up a company. Earlier, Nanping city government has approved the establishment of Nanfu staff holdings, and registered in the Civil Affairs Bureau, but in the Trade and Industry Bureau was not approved, so the establishment of the Dafeng Electric, held by the shares of Nanfu.

   In 1999, the shareholders of Nanfu Company in the development of the golden age in the Nanping city government to attract foreign investment policy requirements, China International Capital Corporation ("CICC") combined with the Netherlands National Investment Bank invested more than 100 million dollars, Morgan (Hereinafter referred to as the "China Battery") in Hong Kong by several Chinese shareholders including Hong Kong dollars, Singaporean Government Investment Company, US $ 10 million and Nanking Battery Factory and Base Company. China's battery through the Nanfu injection and transferee Dafeng Electric held part of the South Fu shares, won a 69% stake in Nanfu battery. Four foreign shareholders accounted for 49% of China's total shares of the battery, the Chinese shareholders to hold part of the shares of Nanfu as a capital, accounting for 51% of China's battery shares. Nanfu ownership structure appeared in the first major changes.

   In 2000, 100% had a significant loss for the poor operation of the company, and 20% of the shares of China Battery held by the Company were sold to another subsidiary of the base company. The remaining 8.25% of the shares were sold to Morgan Stanley: 8.25% of the shares to sell means that China has lost control of China's battery.

   In 2001, Morgan Stanley bought a 20% stake in China Battery for a $ 15 million subsidiary.

   In 2002, Nanping city government also held its stake in the Chinese battery to 10 million US dollars to the transfer of foreign shareholders, so the shares of China's battery has been completely transferred to the hands of foreign shareholders, foreign shareholders of Nanfu's controlling interest has been Reached 72%, another 28% of the shares by the South Pacific International Investment, China Export Commodity Base Corporation, Dafeng Electric Company holds. China completely lost Nanfu controlling stake, which is Nanfu ownership structure of the second major changes.

   August 2003, the United States Gillette company to 100 million US dollars from Morgan Stanley, CDH investment, the Singapore government investment and other companies bought the hands of the Hong Kong Chinese battery company's equity, as Nanfu this in China's most powerful The controlling shareholder of the competitor, and the total investment of Chinese foreign shareholders of the battery is 42 million US dollars.

   In 2005, Procter & Gamble bought the Gillette for $ 57 billion, and Nanfu became a subsidiary of Procter & Gamble.

Two Important Turning Points in Nanfu 's Development

From the development of Nanfu battery mileage, you can clearly see two important turning point, one is the introduction of South Africa in 1999, Morgan Stanley and other foreign strategic investors, and the other is the 2003 Gillette directly into the South Fu battery.

Nanfu turn security for the introduction of foreign investment

Nanping city government in order to implement the "state-owned assets from the competitive field exit" and attract foreign investment policy, will Nanfu listed in the state-owned enterprises out of the first batch of enterprises in the list. In the "pretty girl first marry" principle, was in the development of the golden age of Nan Fu was forced to foreign joint venture. But in fact, during this period Nanfu battery is very abundant funds, there is no need to introduce foreign investment. In other words, Nan Fu introduced foreign capital this matter is entirely driven by the Nanping city government. At that time, Nanping City, the original intention of two, one is through the Nanfu battery joint venture to complete the Nanping City investment task; the other is to accelerate the listing of Nanfu battery to solve the future development of Nanfu financing problems, and China still can control Nanfu. Can not say that this is not a two-pronged approach. However, it turns out that the introduction of foreign capital did not bring any benefits to Nanfu, the target into the international market and listing and financing are not achieved.

   Since the presence of Morgan Stanley in the presence of Morgan Stanley's shareholders, its dazzling capital operation, the frequent changes in equity, and soon made the Nanfu controlling shareholder a series of changes, but also to Nanfu did not obtain the listing in Hong Kong qualifications The Morgan, a company called "blood, intelligence and money", after years of foreign capital of the ingenuity, formed a set of experience, that is, through the local interests of bundled public relations, to maximize the benefits, and bundled the way nothing more than Take the cooperation with the local investment institutions, so that they participate in the interests of the share, to the interests of the drive, the use of their local influence to promote the progress of things. In a word is "Morgan Stanley is a wolf", Nan Fu introduction of foreign capital is cited wolf burglary, but also the beginning of its crisis.

Kyrgyzstan into the main South Fu

Kyrgyzstan can be said that the development of Nanfu battery in the course of another major turning point. Was the Nanfu defeated Gillette overnight became Nan Fu's parent company, which also means that Gillette almost occupied the entire Chinese battery market, of course, this is Gillette from the high price of the acquisition of Nanfu's main purpose. Gillette into Nanfu later, immediately stopped Nanfu to expand overseas business, then Nanfu gradually out of the overseas market, which led to half of the production capacity of idle enterprises, Nanfu battery internationalization of this stop.

By Nan Fu triggered by the protection of national brand thinking

Nanfu battery is a typical case of multinational companies mergers and acquisitions of national brands. This government function is unique to China, foreign government does not have this function. But in the actual operation of investment in the government should correctly handle the investment and the development of national industry, the relationship between national brands. Opening up to attract foreign investment is China's national policy, should be conscientiously implement, but in the process of attracting foreign investment, for some very influential in the industry of national brands, such as Nanfu battery, in the introduction of foreign capital should be careful not to The local government short-term economic efficiency and performance, and to lose such a good national brand at the expense. Therefore, the government in attracting investment at the same time, should pay attention to and strengthen the supervision of foreign investment in China to prevent foreign capital on the Chinese national brand of malicious mergers and acquisitions to protect the healthy development of national brands.

First of all, the government should raise awareness of investment and strengthen legislation to create a favorable environment for the development of national brands. In recent years, foreign industrial giants have been active in various industrial areas in China, such as hunters staring at the many Chinese enterprises within the leading enterprises and national brands. They are not satisfied with the early entry into China when the purpose of selling products, but want full control, and even gradually eliminate the Chinese national brand, completely occupied the market. China Academy of Social Sciences Institute of World Economics and Politics found that foreign acquisitions of Chinese enterprises, generally adhere to the "three must" principle, that "must be absolutely holding", "must be the industry leading enterprises" and "expected rate of return must exceed 15% " And abroad, a leading enterprise in the industry is absolutely not allowed to foreign capital acquisition. These are enough to illustrate the need to raise awareness and strengthen legislation.

Second, the government should strengthen the implementation of relevant laws and regulations, and effectively regulate the operation of foreign capital and protect national brands. In recent years, China has promulgated a number of regulations and regulations on foreign mergers and acquisitions, such as "Provision of Provisional Regulations on the Reorganization of State-owned Enterprises by Foreign Investment", "Rules for Directing Foreign Investment", "Administrative Measures on Acquisition of Listed Companies", " Industry guidance directory "and in August 2008 began the implementation of the" Anti-monopoly Law of the People's Republic of China "and so on. However, the biggest problem with these regulations and regulations is that the system is scattered, the introduction of different departments, practice is difficult to operate, the actual policy is often dependent on the internal control of government departments, resulting in some places and some areas of foreign capital mergers and acquisitions in violation of the illegal operation. Therefore, it is very important to strengthen the enforcement of laws and regulations.

Finally, the government should increase the people's awareness of the protection of national brands. National brand protection, in the final analysis, the need for the whole society to participate. To make everyone aware of the importance of national brands. National brand is the whole society to create the wealth, to gradually cultivate the protection of national brand awareness, of course, this is not to promote trade protectionism, but to form a national brand priority support social atmosphere. Japan, South Korea in this regard some experience worth learning from. Japan and South Korea's national car brand by the United States and Europe when the impact of automobile manufacturing, Japan and South Korea's people stand up to support the nation's auto industry, give priority to the purchase of the national brand car, to the national automobile industry a living space. Especially in our national industry is not very strong circumstances, the protection of national brands need the whole society's efforts to the growth of national brands to provide a fertile soil. Only set the power of the nation. In order to create dominate the world's national brand. Therefore, the government still need to increase publicity for the protection of national brands.